Mindflair (AIM:MFAI), the AIM-listed company focused on investing in AI-related technology, generated cash proceeds of €600,000 from a partial realisation of its stake in CameraMatics during the first half.
The transaction came as a new investor injected €49 million into the fleet safety software company, allowing Mindflair to bank cash while retaining a position in a well-funded, high-growth business.
It marks the sixth cash realisation from Mindflair's first Sure Valley Ventures fund (SVV1) since inception, following earlier exits including Smarttech247, Artomatix and the April 2025 sale of Getvisibility, which generated proceeds of around £2.6 million.
Net asset value fell to £7.66 million at 30 June, down from £9.41 million at the end of December, driven by a lower valuation of portfolio company Napster and the administration of Nova Leah, partly offset by progress within its second fund, SVV2.
NAV per share dropped to 1.454p from 1.787p, against a share price of 0.375p on 16 September, leaving the stock trading at a 74% discount to NAV, a gap that widened over the period.
The company's cash balance rose to £683,000 from £610,000, and it increased its stake in SVV2 from 6.1% to 7.8% by buying an additional participation from another partner.
Portfolio progress included Mirror Security expanding into the US and Singapore after powering encrypted AI inference for a Middle East sovereign AI programme, and Recurvia securing a €2.4 million grant from the European Innovation Council.
"Mindflair provides investors with exposure to a comprehensive portfolio of AI companies through a publicly listed entity at a significant discount to the Company's underlying net asset value", said director Nicholas Lee.
